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AA

Alcoa

$10.38

0.18 (1.76%)

16:10
10/05/16
10/05
16:10
10/05/16
16:10

Alcoa completes 1-for-3 reverse stock split

Alcoa announced that it has completed the previously-announced reverse stock split of Alcoa Inc. common stock at a ratio of 1 for 3 and a proportionate reduction in the number of authorized shares of its common stock, from 1,800,000,000 shares to 600,000,000 shares. The reverse stock split and authorized share reduction were approved by Alcoa shareholders at a special shareholder meeting earlier today. The applicable articles of amendment were filed in the Pennsylvania Department of State on October 5, 2016. Alcoa Inc. common stock will begin trading on a split-adjusted basis at market open on October 6, 2016. Alcoa Inc. common stock will continue to trade on the New York Stock Exchange under the symbol "AA," although a new CUSIP number has been assigned to it as a result of the reverse stock split.

  • 05

    Oct

  • 11

    Oct

AA Alcoa
$10.38

0.18 (1.76%)

05/23/16
BOFA
05/23/16
UPGRADE
BOFA
Buy
Alcoa upgraded to Buy from Neutral at BofA/Merrill
05/23/16
05/23/16
UPGRADE
Target $11

Buy
Alcoa upgraded to Buy from Neutral at BofA/Merrill
As previously reported, BofA/Merrill upgraded Alcoa to Buy from Neutral and raised its price target to $11 from $10.50. Analyst Timna Tanners said aluminum and alumina has become a lesser portion of Alcoa's earnings yet shares have become increasingly correlated to aluminum pricing while aerospace exposure now leaves it with an estimated 75% of its earnings levered to the segment. Tanners is confident in an upswing in aero-heavy downstream results and sees engine deliveries up 10% in 2016 and 18% in 2017. The analyst views the recent pullback in Alcoa shares as a buying opportunity given reduced commodity exposure and increased aero contribution.
09/09/16
GHSC
09/09/16
INITIATION
Target $11
GHSC
Neutral
Alcoa initiated with a Neutral at Seaport Global
Seaport Global analyst Josh Sullivan initiated Alcoa with a Neutral and $11 price target.
09/09/16
09/09/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. American Express (AXP) initiated with an Underweight at Atlantic Equities. 2. Alcoa (AA) initiated with a Neutral at Seaport Global. 3. Blue Buffalo Pet Products (BUFF) initiated with an Outperform at Oppenheimer. 4. Harley-Davidson (HOG) initiated with an Outperform at Bernstein. 5. Verifone (PAY) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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11:15
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GMED

Globus Medical

$30.84

-0.06 (-0.19%)

, MZOR

Mazor Robotics

$35.68

0.64 (1.83%)

11:14
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After surveying spine doctors, analyst says sell Globus Medical »

This morning, Barclays…

GMED

Globus Medical

$30.84

-0.06 (-0.19%)

MZOR

Mazor Robotics

$35.68

0.64 (1.83%)

SYK

Stryker

$134.39

1.45 (1.09%)

JNJ

Johnson & Johnson

$122.47

0.71 (0.58%)

NUVA

NuVasive

$75.02

-0.68 (-0.90%)

KTWO

K2M Group

$21.21

-0.13 (-0.61%)

MDT

Medtronic

$81.13

0.645 (0.80%)

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UAL

United Continental

$70.55

0.99 (1.42%)

11:13
04/24/17
04/24
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Periodicals
Lawyer says Dao to sue United Airlines over forcible removal, BI reports »

Thomas Demetrio, the…

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SLCA

U.S. Silica

$40.95

0.44 (1.09%)

11:12
04/24/17
04/24
11:12
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11:12
Technical Analysis
U.S. Silica technical notes ahead of earnings, potential bearish pattern »

There is a potential…

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  • 25

    Apr

PWOD

Penns Woods Bancorp

$41.77

-0.16 (-0.38%)

11:12
04/24/17
04/24
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11:12
Hot Stocks
Penns Woods Bancorp authorizes extension of stock repurchase plan »

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NEM

Newmont Mining

$34.01

-0.12 (-0.35%)

11:11
04/24/17
04/24
11:11
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11:11
Options
Put buying continues in Newmont Mining ahead of earnings »

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  • 25

    Apr

11:10
04/24/17
04/24
11:10
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General news
Treasury announced a $60 B 4-week bill auction for Tuesday »

Treasury announced a $60…

SNY

Sanofi

$45.93

1.835 (4.16%)

11:09
04/24/17
04/24
11:09
04/24/17
11:09
Periodicals
Breaking Periodicals news story on Sanofi »

Sanofi files…

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  • 24

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11:07
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11:07
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General news
4-Week Bill Announcement Offering Amount data reported »

4-Week Bill Announcement…

VLO

Valero

$66.69

1.46 (2.24%)

11:06
04/24/17
04/24
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Options
Valero call volume above normal and directionally bullish »

Bullish option flow…

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BOCH

Bank of Commerce Holdings

$11.05

0.1 (0.91%)

11:01
04/24/17
04/24
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Hot Stocks
Bank of Commerce Holdings to relocate headquarters to Sacramento from Redding »

Randall S. Eslick,…

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WHR

Whirlpool

$174.98

3.47 (2.02%)

11:01
04/24/17
04/24
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Technical Analysis
Whirlpool technical comments before earnings »

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SBH

Sally Beauty

$19.27

-0.425 (-2.16%)

, SMRT

Stein Mart

10:57
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Hot Stocks
Sally Beauty slides after downgrade as KeyBanc sees 'hairy' retail story »

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SBH

Sally Beauty

$19.27

-0.425 (-2.16%)

SMRT

Stein Mart

ULTA

Ulta Beauty

$279.50

0.77 (0.28%)

03/08/13
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  • 20

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BX

Blackstone

$30.35

0.07 (0.23%)

10:56
04/24/17
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Options
Blackstone put volume heavy and directionally bearish »

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10:55
04/24/17
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General news
Treasury Action: Treasuries were unaffected by Dallas Fed beat »

Treasury Action:…

KURA

Kura Oncology

10:52
04/24/17
04/24
10:52
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10:52
Conference/Events
Kura Oncology management to meet with JMP Securities »

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  • 26

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10:50
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General news
U.S. Dallas Fed manufacturing index dipped 0.1 point to 16.8 in April »

U.S. Dallas Fed…

DWCH

Datawatch

$9.25

0.85 (10.12%)

10:49
04/24/17
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Conference/Events
Datawatch management to meet with Craig Hallum »

Meeting to be held in New…

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  • 26

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BGG

Briggs & Stratton

$23.94

0.44 (1.87%)

10:46
04/24/17
04/24
10:46
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10:46
Conference/Events
Briggs & Stratton management to meet with Sidoti »

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  • 26

    Apr

10:45
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04/24
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General news
Breaking General news story  »

4-Week Bill Announcement…

AKS

AK Steel

$6.93

0.2083 (3.10%)

, STLD

Steel Dynamics

$35.37

0.46 (1.32%)

10:44
04/24/17
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Hot Stocks
Analyst upgrades steel stocks on signs of rebounding demand »

Macquarie upgraded…

AKS

AK Steel

$6.93

0.2083 (3.10%)

STLD

Steel Dynamics

$35.37

0.46 (1.32%)

NUE

Nucor

$60.99

0.99 (1.65%)

X

U.S. Steel

$31.14

0.72 (2.37%)

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